Monday , October 18 2021

The profits of & # 39; Grupo SK falling 11.5% in & # 39; September due to losses originating in Engineering and Construction



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Sigdo Kopper SK

The Consolidated Revenue & # 39; Sigdo Kopper (SK) increased by 2.3% compared with & # 39; In September 2017, and reached USD 1678.4 million, f & # 39; & # 39 complied with; higher level & # 39; sale industrial zone, explained by higher sales in both physical & # 39; Enaex as well as MAGOTTEAUX.

The Consolidated EBITDA stands at & # 39; in September 2018, which reached the sum & # 39; US $ 211.3 million, 5.9% higher than the same period a year & # 39; before. This result is associated with & # 39; best operating result in MAGOTTEAUX and Fepasa, and better performance in hiring and distribution of machinery business & # 39; SK Comercial.

On the other hand, Net Income reaches US $ 45.9 million, representing a decrease of & # 39; 11.5% in relation to the third quarter of 2017, mainly due to the losses recorded in & # 39; Ingroll and Construction Sigdo Kopper, originating from work in Talara refinery in Peru. It additionally has an effect on the increase in the effective tax rate, since deferred taxes associated with & # 39; this loss in & # 39; Tarara not being recorded.

SK CARD

The results of subsidiaries & # 39; Sigdo Kopper show mixed results highlight the better performance and higher MAGOTTEAUX & # 39; business sales distribution machinery in Chile, offset by negative performance of the Engineering Business and Construction due to problems in the operations in Peru and lower earnings in productions SK Inversiones product & # 39 ; lower margins and conditions of the exchange rate in the car sales business.

subsidiaries Performance

SK Engineering and Construction (ICSK)

This subsidiary recorded 13.2 million hours & # 39; work (+ 17%), to the highest level & # 39; projects awarded. On the other hand, the EBITDA pro ICSK form showed a loss of & # 39; COP 4,396 million, which represents worst result & # 39; 252% compared to the third quarter of last year. This operating loss is largely related to the project losses in Talara refinery in Peru. Therefore, ICSK showed a net loss of & # 39; $ 9504 million (-US $ 15 million), representing a worse outcome for CLP $ 8228 million in relation to & # 39; September 2017. This loss also increased due to deferred taxes associated with losses are being recorded. f & # 39; Taara. The deposit b & # 39; back to 3 Q-18 reaches USD 589 million which represents a reduction of & # 39; US $ 39 million compared to & # 39; June & # 39; this year (the output of Talara project represents a US $ 47 million & # 39; Lower backlog).

Port Windows (PVSA)

PVSA transferred a total of & # 39; 4.3 million tonnes (+ 3%), and higher stress transfers & # 39; coal and grains. Fepasa turn transported 823 million tonnes-km (+ 14.8%), and highlighted the increase in the transport of copper concentrate.

Therefore, the consolidated EBITDA & # 39; Puerto Ventana reached US $ 33.9 million, representing

Adding & # 39; 13%, as a result of & # 39; better operational performance of its subsidiary Fepasa. On – turn, the –

The Consolidated Net Revenue & # 39; Puerto Ventana reached US $ 14.2 million, representing a

Rose & # 39; 8% compared to & # 39; September 2017.

Enaex

Enaex achieved sales & # 39; 671 thousand tons & # 39; explosives (+ 7%), thanks to higher service

rock fragmentation in Brazil. The Consolidated EBITDA & # 39; Enaex reached US $ 119.5 million

for the third quarter, showing a slight decrease of & # 39; 0.8%, mainly explained by & # 39; smaller result from the service area of ​​the fragmentation of rock in Chile.

For its part, the Net Profit of & # 39; Enaex reached US $ 55.6 million, representing a decrease of & # 39; 5%

respect & # 39; September 2017.

MAGOTTEAUX

MAGOTTEAUX achieved sales & # 39; US $ 528 million (+ 6%) online b & # 39; higher physical sales (+ 1%)

mainly in the business & # 39; Casting. The EBITDA & # 39; MAGOTTEAUX reached US $ 45.8 million in the third quarter, 25% more than in & # 39; September 2017, explained b & # 39; recovery in operating margin. Therefore, MAGOTTEAUX achieved Net Profit of & # 39; US $ 10.9 million, an increase of & # 39; 58% compared with & # 39; September 2017.

SK Commercial (SKC)

SK Comercial had revenue & # 39; US $ 193 million (+ 1.3%), who were driven from the area & # 39;

sales & # 39; machinery. The EBITDA reached US $ 25.6 million, which showed growth of & # 39; 49% compared to & # 39;

for the same period 2017. Since September 2018, SKC filed Net Profit of & # 39; US $ 1.2 million,

mainly explained by & # 39; a slight recovery of the machinery market in Chile, along with & # 39; a

extraordinary gains from the sale of & # 39; a piece of land in the process of & # 39; SKC restructuring. The rental market is still very Peruvian machinery contracted.

SKBergé Investments / SK Automotive (SKIA)

SKBergé recorded sales & # 39; 68 773 units, representing an increase of & # 39; 19% compared with & # 39; September 2017. This growth in sales was evident in & # 39; Ċilel (+ 28%) and abroad (+ 8%). Despite this & # 39; above, SK Inversiones Automotrices record net profit of & # 39; $ 10 157 million (US $ 17 million), which is lower than that achieved in the same period of 2017 (-26% CLP), product & # 39; lower operating and operating margin. losses due to differences in exchange rate (sharp devaluation of the Argentine peso in the second and third quarter of 2018).

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